Sensex, Nifty Inch Higher Ahead Of RBI Meeting

10/4/2017 12:17 AM ET

Indian shares opened modestly higher on Wednesday, with solid core sector output data, falling oil prices and firm global cues helping underpin investor sentiment ahead of the RBI's monetary policy review due out later in the day.

The benchmark BSE Sensex was up 45 points or 0.15 percent at 31,543 in early trade while the broader Nifty index was up 18 points or 0.19 percent at 9,878.

Natco Pharma shares soared 20 percent. Its partner Mylan NV has received the U.S. FDA approval to launch the generic version of multiple sclerosis drug Copaxone in the American market.

BPCL, HPCL and IOC climbed 1-3 percent as oil extended losses and the government cut the basic excise duty on diesel and petrol to counter inflation.